Hyderabad, Feb 4 (NationPress) Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao on Wednesday called for an inquiry into the purported ‘benami’ company linked to Telangana Chief Minister Revanth Reddy.

During a press conference, KTR asserted that KLSR operates as a front for the Chief Minister, claiming to possess evidence supporting his allegations.

The BRS leader noted that KLSR has functioned as a ‘benami’ entity for Revanth Reddy since its inception.

He mentioned that the Supreme Court recently issued notices to the Telangana government, demanding explanations regarding extensive financial transactions occurring within the company despite its insolvency proceedings, alongside claims of attempts to influence judicial processes.

KTR accused Revanth Reddy of staging what he referred to as a political spectacle from Davos, under the pretense of forming a Special Investigation Team (SIT) concerning the alleged telephone-tapping incident to distract public focus.

He insisted on an immediate investigation into the company and urged that all activities of the insolvent firm be suspended until the inquiry is concluded. Furthermore, he demanded that the company be blacklisted and all contracts allegedly obtained without proper qualification be annulled.

KTR revealed that enforcement agencies had conducted raids on KLSR in 2018, with reports at the time linking the company to Revanth Reddy, who was then the state Congress president.

Even though the firm later entered insolvency proceedings at the National Company Law Tribunal (NCLT), KTR claimed that the Chief Minister facilitated the awarding of significant government contracts to the company after taking office.

He further noted that Income-Tax raids were executed on Revanth Reddy’s relatives on September 27, 2018, during which connections between Sai Mourya Estates and KLSR were uncovered.

KTR pointed out that in July 2023, disputes arose between KLSR and another firm, prompting both to approach the NCLT. Subsequently, KLSR filed a Corporate Insolvency Resolution Petition, leading to restrictions on financial transactions.

KTR alleged that Revanth Reddy was the pivotal figure maneuvering behind the scenes to secure favorable outcomes for the company, citing the firm’s purported financial dealings with Sai Mourya, a business associated with the Chief Minister’s brother-in-law.

He claimed that funds were channeled through KLSR to acquire substantial land parcels and reiterated that enforcement agencies had previously recovered evidence during their investigations.

KTR alleged that despite the company’s insolvency, KLSR obtained government contracts valued at nearly Rs 6,000 crore under the current administration, including projects related to the AMRUT Scheme, Jal Jeevan Mission, Young India Residential Schools, Telangana irrigation initiatives, and road development schemes.